This is an essential fiscal and economic tool for the normal working dynamics of practically every country in the world, the Bank account today it is much more widespread and diversified than a few decades ago. Also for this reason the European states, including the Italian one, have decided to increase controls on money transfers, both relating to the amount and the nature of the “movements”. The situation may actually seem chaotic, but specifically, what are the current account limits and what are the risks?
Current account, if you exceed this figure you risk big: “attention”
When we talk about limits, we generally refer to those relating to the amounts in the withdrawal and payment phase: as we have already recently dealt with for cash, these limits have been progressively reduced significantly in recent years precisely to “incentivize” the use of traceable systems such as bank transfers, ATMs and cards during the payment phase.
From 1 January 2022 the limit should have been 1000 euros even if a few months later, this was brought back to 2000 euros as in 2021: this means that any payment with cash can be considered “legal” if below this threshold, which it should actually halve by 2023.
To avoid checks by the UIF, the Financial Intelligence Unit, that is the body in charge of combating money laundering, private citizens can actually rest assured if they do not withdraw more than 2000 euros a day, and 10 thousand euros per month, while for freelancers the money limit is 1,000 euro daily or in any case of 5,000 euros per month. Higher amounts must be declared in advance from a fiscal point of view so as to remove any doubts as to the origin and purpose of these forms of “movements”.
Otherwise, that is, if the owner is unable to “prove” the nature, variable sanctions are envisaged depending on the amount, which start from 2000 euros up to 50 thousand euros.